Lancashire family-owned wallcovering company Holden Decor has been bought by a Belgian group.
Grandeco Wallfashion Group has completed the purchase of the North West firm, with the move part of its global expansion strategy and intention to become a pan-European market leader.
Holden Decor, founded in 1991, designs and creates wallpapers at its base in Darwen, and will continue to operate independently.
Founder Derek Holden will remain as managing director at the head of the existing management team following the deal for an undisclosed fee.
He said: “The fit with Grandeco is ideal as we complement each other perfectly by providing very distinctive products for the consumer and different approaches to the market.”
Crowe’s corporate finance team provided financial and tax due diligence, as well as ad hoc deal structuring advice.
The corporate finance team consisted of Midlands corporate finance partner Andy Kay with Chasz Coulsting, Jason Daft and Liam Hadfield.
Paul Cox, Hayley Hill and Navin Sharma supported the transaction from the tax advisory aspect.
Grandeco’s chief financial officer Herman Van der Plaetsen said: “I would really like to thank the whole team at Crowe for the very professional support and work done. It was a great pleasure to work together with all of you."
Andy Kay of Crowe's corporate finance scheme said: “We were delighted to help Grandeco with the acquisition of Holden Decor. It is another concrete step towards Grandeco’s newly set out vision to strengthen its market share.”
Legal advice to Grandeco was provided by law firm Paris Smith in Southampton under the leadership of Partner Michael Moore.
